Hong Kong Luxury Apartments For Double the Price

Real estate in Hong Kong either proves that the global recession is coming to an end, or just how desperate some people are to have ultimate luxury. Word is that the world’s largest property developer by market value, Sun Hung Kai Properties, is raising the prices for two of their penthouses on the 91st and 93rd of a 70-meter (886-feet) tower in the city, by 50-percent. Forced by the increasing demand for luxury properties, the company is asking for a staggering HK$75,000 ($9,700) per square foot, adding to a total of $38.5 million each. The 4,000 square feet (372 square meters) luxury apartments are built on three floors, have six bedrooms, an outdoor garden and a swimming pool. We’ll let you find the justification for such a price … [via Luxuo]